NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Receives $36.50 Consensus Target Price from Brokerages

Shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $36.50.

Several equities analysts have recently weighed in on NRXP shares. Wall Street Zen raised NRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Ascendiant Capital Markets increased their target price on NRx Pharmaceuticals from $46.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Zacks Research upgraded NRx Pharmaceuticals to a “hold” rating in a research note on Wednesday, September 10th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of NRx Pharmaceuticals in a research report on Wednesday, December 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of NRx Pharmaceuticals in a research note on Thursday, October 16th.

NRx Pharmaceuticals Stock Down 5.9%

Shares of NASDAQ NRXP opened at $2.07 on Monday. The firm’s 50-day moving average price is $2.71 and its 200-day moving average price is $2.87. NRx Pharmaceuticals has a 52-week low of $1.17 and a 52-week high of $6.01. The company has a market cap of $58.17 million, a PE ratio of -0.88 and a beta of 1.91.

NRx Pharmaceuticals (NASDAQ:NRXP) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The company had revenue of $0.24 million for the quarter, compared to the consensus estimate of $6.83 million. As a group, equities research analysts anticipate that NRx Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On NRx Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Anson Funds Management LP raised its holdings in NRx Pharmaceuticals by 26.2% in the 3rd quarter. Anson Funds Management LP now owns 2,025,104 shares of the company’s stock worth $6,683,000 after purchasing an additional 420,129 shares during the period. Vanguard Group Inc. increased its position in NRx Pharmaceuticals by 18.3% in the third quarter. Vanguard Group Inc. now owns 534,956 shares of the company’s stock worth $1,765,000 after buying an additional 82,781 shares in the last quarter. AdvisorShares Investments LLC raised its stake in shares of NRx Pharmaceuticals by 29.7% in the third quarter. AdvisorShares Investments LLC now owns 342,136 shares of the company’s stock worth $1,129,000 after buying an additional 78,339 shares during the period. Geode Capital Management LLC raised its stake in shares of NRx Pharmaceuticals by 27.9% in the second quarter. Geode Capital Management LLC now owns 172,255 shares of the company’s stock worth $562,000 after buying an additional 37,598 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of NRx Pharmaceuticals by 66.4% during the 3rd quarter. Two Sigma Investments LP now owns 52,332 shares of the company’s stock valued at $173,000 after buying an additional 20,880 shares in the last quarter. Institutional investors own 4.27% of the company’s stock.

About NRx Pharmaceuticals

NRx Pharmaceuticals, Inc, a clinical-stage bio-pharmaceutical company, develops novel therapeutics for the treatment of central nervous system disorders, including suicidal depression, post-traumatic stress disorder, and chronic pain. Its products include NRX-101 (D-cycloserine/Lurasidone), an oral, fixed dosed combination of D-cycloserine and lurasidone that earned food and drug administration-designated breakthrough therapy for suicidal treatment-resistant bipolar depression; and NRX-100 (ketamine), which has been awarded FDA fast track designation for the treatment of severe bipolar depression with acute suicidal ideation and behavior.